Parsley Energy Inc (NYSE:PE) – Equities researchers at Piper Jaffray Companies reduced their Q1 2019 EPS estimates for Parsley Energy in a research report issued on Wednesday, January 9th. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and natural gas company will earn $0.14 per share for the quarter, down from their previous forecast of $0.33. Piper Jaffray Companies has a “Buy” rating and a $46.00 price target on the stock. Piper Jaffray Companies also issued estimates for Parsley Energy’s Q2 2019 earnings at $0.16 EPS, Q3 2019 earnings at $0.29 EPS, Q4 2019 earnings at $0.35 EPS, FY2019 earnings at $0.94 EPS, Q1 2020 earnings at $0.33 EPS, Q2 2020 earnings at $0.34 EPS, Q3 2020 earnings at $0.37 EPS, Q4 2020 earnings at $0.40 EPS and FY2020 earnings at $1.45 EPS.
Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus restated a “buy” rating and set a $57.00 price target on shares of Parsley Energy in a report on Wednesday, October 24th. Wells Fargo & Co initiated coverage on shares of Parsley Energy in a report on Wednesday, October 24th. They set an “outperform” rating and a $47.00 price target on the stock. Zacks Investment Research lowered shares of Parsley Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. ValuEngine lowered shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 1st. Finally, Williams Capital reiterated a “hold” rating and issued a $25.00 price objective on shares of Parsley Energy in a research note on Wednesday, December 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Parsley Energy currently has a consensus rating of “Buy” and a consensus target price of $33.33.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. Parsley Energy had a net margin of 21.70% and a return on equity of 6.77%. The business had revenue of $511.00 million for the quarter, compared to analyst estimates of $493.44 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. The firm’s revenue was up 112.0% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Korea Investment CORP bought a new stake in shares of Parsley Energy during the 2nd quarter worth $654,000. Highland Capital Management LLC bought a new stake in shares of Parsley Energy during the 3rd quarter worth $502,000. Credit Suisse AG boosted its holdings in shares of Parsley Energy by 42.2% during the 3rd quarter. Credit Suisse AG now owns 502,991 shares of the oil and natural gas company’s stock worth $14,713,000 after buying an additional 149,203 shares during the period. Lisanti Capital Growth LLC boosted its holdings in shares of Parsley Energy by 29.2% during the 3rd quarter. Lisanti Capital Growth LLC now owns 25,730 shares of the oil and natural gas company’s stock worth $753,000 after buying an additional 5,808 shares during the period. Finally, Jaffetilchin Investment Partners LLC bought a new stake in shares of Parsley Energy during the 3rd quarter worth $985,000. 82.96% of the stock is owned by institutional investors and hedge funds.
In other Parsley Energy news, Director A R. Alameddine purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, November 27th. The shares were bought at an average price of $21.10 per share, for a total transaction of $105,500.00. Following the purchase, the director now directly owns 122,643 shares in the company, valued at approximately $2,587,767.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have bought 7,000 shares of company stock worth $145,490. 13.17% of the stock is currently owned by company insiders.
About Parsley Energy
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.
Further Reading: Net Asset Value
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